22nd Branch Enhances Unity Bank’s Community Banking Presence Across the Region MADISON, N.J., June 20, 2025 (GLOBE NEWSWIRE) -- Unity Bank proudly announces the opening of its newest branch at 269 Main St, Madison, NJ. This expansion strengthens Unity Bancorp, Inc’s. (NASDAQ: UNTY) presence in the community, bringing the total number of branches to 22 and expanding its retail banking footprint across New Jersey and Pennsylvania. The 2,000-square-foot branch facility features onsite parking, drive-up banking ...

Core Viewpoint - Unity Bancorp, Inc. has declared a cash dividend of $0.14 per common share, payable on June 20, 2025, to shareholders of record as of June 6, 2025 [1] Group 1: Company Overview - Unity Bancorp, Inc. is a financial services organization based in Clinton, New Jersey, with approximately $2.8 billion in assets and $2.2 billion in deposits [2] - Unity Bank, the wholly owned subsidiary of Unity Bancorp, provides financial services to retail, corporate, and small business customers through a branch network in various counties in New Jersey and Pennsylvania [2] Group 2: Financial Information - The declared cash dividend of $0.14 per common share reflects the company's ongoing commitment to returning value to its shareholders [1]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____. Commission File Number 1-12431 Unity Bancorp, Inc. (Exact name of registrant as specified in its charter) New Jersey 22-328255 ...

Core Insights - Unity Bank has been recognized as one of the top-performing small banks in the United States by the Hovde Group, marking the third consecutive year of inclusion in the high-performer list, indicating strong financial management and customer service [1][3]. Group 1: Performance Recognition - The Hovde Group's 2025 report evaluates small banks with market capitalizations between $100 million and $1.5 billion, ranking them based on financial metrics such as pre-tax pre-provision net revenue, efficiency ratios, loan and deposit growth, tangible book value growth, and employee productivity [2]. - Unity Bank's recognition reflects the strength of its strategic approach, employee dedication, and customer trust, emphasizing a focus on long-term, responsible growth [3]. Group 2: Company Overview - Unity Bancorp, Inc. (NASDAQ:UNTY) is the parent company of Unity Bank, which operates 21 branches across New Jersey and the Lehigh Valley, Pennsylvania, providing community-focused commercial banking services [5].

CLINTON, N.J., April 22, 2025 (GLOBE NEWSWIRE) -- Unity Bank has been named one of the top-performing small banks in the United States by the Hovde Group, a nationally respected financial advisory and research firm. This marks the third time Unity Bancorp, Inc. (NASDAQ: UNTY) has been included in Hovde’s annual high-performer list, underscoring the bank’s sustained excellence in financial management and customer service. The 2025 edition of Hovde Group’s report evaluates small banks with market capitalizati ...

For the quarter ended March 2025, Unity Bancorp (UNTY) reported revenue of $29.35 million, up 14.8% over the same period last year. EPS came in at $1.13, compared to $0.93 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $28.57 million, representing a surprise of +2.74%. The company delivered an EPS surprise of +0.89%, with the consensus EPS estimate being $1.12.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how ...

Unity Bancorp (UNTY) came out with quarterly earnings of $1.13 per share, beating the Zacks Consensus Estimate of $1.12 per share. This compares to earnings of $0.93 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 0.89%. A quarter ago, it was expected that this bank holding company would post earnings of $1.08 per share when it actually produced earnings of $1.13, delivering a surprise of 4.63%.Over the last four quarters, the ...

Financial Performance - Net income for the quarter ended March 31, 2025, was $11.6 million, a 0.8% increase from $11.5 million for the quarter ended December 31, 2024[1]. - Net income for the period was $11,598,000, reflecting a slight increase of 0.8% from $11,505,000 in the previous quarter and a significant increase of 21.0% from $9,586,000 year-over-year[12]. - Net income for Q1 2025 was $11,598,000, slightly up from $11,505,000 in Q4 2024, representing an increase of 0.81%[22]. - Basic net income per common share was $1.15, unchanged from the previous quarter and up from $0.95 year-over-year[12]. Interest Income and Margin - Net interest income increased to $27.3 million for the quarter ended March 31, 2025, up from $26.5 million, with a net interest margin of 4.46%, an increase of 9 basis points[2]. - Total interest income for the three months ended March 31, 2025, was $40,801,000, an increase of 1.3% compared to $40,264,000 for the previous quarter and a 7.5% increase from $37,937,000 year-over-year[12]. - Net interest income after provision for credit losses was $25,934,000, up 3.0% from $25,190,000 in the previous quarter and 11.8% from $23,198,000 year-over-year[12]. - The company reported a net interest margin for the quarter ended March 31, 2025, indicating a focus on maintaining profitability through interest income strategies[14]. - The net interest margin improved to 4.46% for the three months ended March 31, 2025, compared to 4.09% for the same period in 2024[15]. Loans and Deposits - Total gross loans rose by $84.5 million, or 3.7%, from December 31, 2024, primarily due to growth in commercial and mortgage loans[2]. - Total loans increased to $2,345,130,000 in Q1 2025 from $2,260,657,000 in Q4 2024, marking a growth of 3.73%[22]. - Total deposits increased by $75.1 million, or 3.6%, from December 31, 2024, with 20.0% of total deposits being uninsured or uncollateralized[2]. - Total deposits rose to $2,175,398,000 in Q1 2025 from $2,100,313,000 in Q4 2024, reflecting a growth of 3.57%[22]. Asset Growth - Total assets increased by 4.3% to $2,767,943,000 compared to $2,654,017,000 in the previous quarter[10]. - Total assets increased to $2,565,324,000 as of March 31, 2025, compared to $2,436,735,000 on March 31, 2024, reflecting a growth of 5.3%[15]. Equity and Retained Earnings - Shareholders' equity increased to $306.1 million as of March 31, 2025, compared to $295.6 million at the end of the previous quarter[2]. - Total shareholders' equity grew by 3.6% to $306,142,000 compared to $295,583,000[10]. - Retained earnings increased by 4.5% to $237,518,000 from $227,331,000[10]. - Total shareholders' equity increased to $302,292,000 as of March 31, 2025, up from $266,148,000 a year earlier, reflecting a growth of 13.6%[15]. Noninterest Income and Expenses - Noninterest income was $2.1 million for the quarter ended March 31, 2025, compared to $1.9 million for the previous quarter, driven by increased service and loan fee income[2]. - Total noninterest income rose to $2,101,000, a 9.7% increase from $1,916,000 in the previous quarter and a 22.3% increase from $1,718,000 year-over-year[12]. - Total noninterest expense remained stable at $12,611,000, a slight decrease from $12,617,000 in the previous quarter but an increase of 3.9% from $12,132,000 year-over-year[12]. Credit Quality - The allowance for credit losses as a percentage of gross loans was 1.18% as of March 31, 2025[2]. - Nonaccrual assets increased to $18.0 million as of March 31, 2025, compared to $15.0 million as of December 31, 2024[6]. - Provision for credit losses on loans was $1,358,000, a significant increase of 188.9% compared to $470,000 in the previous quarter and up 111.9% from $641,000 year-over-year[12]. - Nonaccrual loans to total loans ratio increased to 0.72% in Q1 2025 from 0.58% in Q4 2024, showing a deterioration in loan quality[22]. - The allowance for credit losses increased by 3.2% to $27,651,000 from $26,788,000[10]. Ratings and Recognition - Unity Bank received a 5-Star Superior rating from BauerFinancial in March 2025, indicating strong performance in capital, loan quality, and profitability[4].

Financial Performance - Unity Bancorp, Inc. reported net income of $11.6 million, or $1.13 per diluted share, for Q1 2025, reflecting a 0.8% increase from the previous quarter's net income of $11.5 million [1] - The company achieved a return on assets (ROA) of 1.83% and a return on equity (ROE) of 15.56% [2] Lending and Deposits - Commercial and residential lending saw strong originations, with loans increasing by $84.5 million, a 3.74% rise from year-end [3] - Customer deposits (excluding brokered deposits) grew by $90.7 million, or 4.82%, quarter over quarter [3] Strategic Outlook - The company aims to manage its balance sheet diligently, focusing on funding future credit growth through deposit growth [3] - Unity Bancorp remains committed to disciplined credit-risk management, including conservative underwriting practices and proactive management of delinquency and non-performing assets [3] Market Context - Despite capital market volatility due to tariffs, Unity Bancorp does not anticipate adverse impacts on loan demand, with some small business customers potentially benefiting from tariffs on foreign goods [4] - The company emphasizes its role as a trusted advisor to customers facing challenges, reinforcing its commitment to local economic development [4] Company Overview - Unity Bancorp, Inc. is headquartered in Clinton, New Jersey, with approximately $2.8 billion in assets and $2.2 billion in deposits [5] - Unity Bank, the wholly owned subsidiary, serves retail, corporate, and small business customers through a robust branch network across several counties in New Jersey and Pennsylvania [5]

CLINTON, N.J., April 11, 2025 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, reported net income of $11.6 million, or $1.13 per diluted share, for the quarter ended March 31, 2025, compared to net income of $11.5 million, or $1.13 per diluted share for the quarter ended December 31, 2024. This represents a 0.8% increase in net income. James A. Hughes, President and CEO, commented on the financial results: “We are pleased to announce another strong quarter for Unity Ban ...